India, Aug. 3 -- The price of gold continued to hold firm in the US market on 3 August 2026 despite the reaction in global commodities due to fluctuations in oil prices and the value of the US dollar. The spot price for gold was trading above $4,060 an ounce after recovering from the previous session amid fresh hopes for diplomatic talks between the US and Iran following the threat of wider conflict in the Middle East region.

Another factor that bolstered investor sentiments was the weakening US dollar as the Dollar Index fell below 99.5, increasing demand for dollar-denominated commodities from foreign investors. Crude oil prices experienced one of the largest falls in weeks, with WTI crude falling below $80 per barrel by 5.6%. Brent cr...